Justin Sun’s Tron Heads for Wall Street with Nasdaq Merger Plan – SRM Stock Explodes 700%

Justin Sun is back in the news in the crypto space and Wall Street is the target this time around. Tron creator Justin Sun reportedly said that he intends to place a Tron-named entity into a strategic merger to go public on NASDAQ, a move which sent SRM shares soaring 700% this week.

Although still in nascent stages, the growth has triggered a speculation wave, indicating that the distinction between conventional finance and crypto might become increasingly blurred in the near future.

A Paradigm Shift: Tron Seeks NASDAQ Access

Under Sun’s strategy, the approach is to combine a blockchain company with a listed shell company, a route referred to as a reverse merger. It has been a method employed by private businesses for decades seeking a short cut to the public stock market.

It’s ambitious for crypto. If it succeeds, Tron would be one of the smallest crypto-native firms listed on NASDAQ and it would be easier to bring in bigger institutional investors.

This approach not only powers Tron’s exposure but might also greenlight other Web3 infrastructural wagers. Market participants are waiting anxiously to observe what the regulators and traditional finance incumbents do.

SRM Stock Rockets Amid News — But Why?

Merger rumors have triggered a massive spillover into SRM, a token which many believe has a high chance of being associated with the deal via backend tech or cross-chain affiliations.

SRM, once hidden without visibility, went wild with a 700% appreciation in price over a brief period. Analysts ascribe this action on the grounds that if Tron gets listed in Nasdaq, related assets will benefit from credibility and visibility.

Retail investors are rushing into the stock, but some analysts issue caution about short-term volatility pending more details of the structure of the merger.

Meanwhile, Remittix Creates Real-World Utility Under the Radar

While everybody’s ogling Sun, another project Remittix (RTX) is gaining steam with a very different approach: solving real-world problems through blockchain.

Remittix is priced at $0.0781, having sold over 545 million tokens and generating $15.8 million+. Unlike most hype-tokens, RTX focuses on merging crypto and fiat and allowing users to send coins like BTC and ETH directly to bank accounts around the world.

As the project is set to unveil in its Q3 wallet, interest is piling up. The platform’s live crypto-to-fiat bridge is designed to be fast, simple and scalable with the $190 trillion global payments market in its sights.

Investors are also being attracted by a limited-time 50% token bonus, with Remittix seeking to reach its $18M softcap milestone. It’s little wonder that some analysts have likened Remittix’s ascent to early-stage XRP and Stellar (XLM) but with even quicker utility.